Polyient Unveils DeFi-Powered Marketplace Protocol for NFTs
Leader in crypto space to launch new NFT marketplace protocol to address industry pain points
PHOENIX, July 28, 2021 /PRNewswire-PRWeb/ -- Polyient, the leading investment firm and development studio focused on non-fungible tokens (NFTs), has unveiled PolyientX, a new NFT marketplace protocol powered by decentralized finance (DeFi) functionality.
The PolyientX marketplace is a next-gen NFT protocol that features a unique fee share mechanism where users, not corporate stakeholders, are the beneficiaries of transaction activity on the platform.
"The current landscape of NFT marketplaces is highly centralized and plagued by rent seeking behavior that substantially limits market growth," said PolyientX co-creator Craig Russo. "With PolyientX, we are decentralizing the traditional economics associated with these marketplaces to empower users and elevate NFTs to become truly productive assets."
This fee share functionality is made possible by Polyient's vault technology that allows users to stake their fungible or non-fungible assets to earn both project-specific and global marketplace rewards.
The Polyient vaults also unlock a new token launch method called the Initial Vault Sale (IVS), where decentralized projects can leverage their supporters' NFT assets to mint and distribute utility and governance tokens, reward marketplace participation and build sustainable economies. IVS will be exclusively available on PolyientX.
"We designed the IVS method as a viable alternative to traditional token sales," said Polyient Head of Product Nick Casares. "Whether you're launching an in-game currency or governance token for your DeFi protocol, you can leverage the PolyientX marketplace and vault protocols to kickstart your economy."
The PolyientX marketplace is set to launch in Fall 2021 with the beta release of PolyientX vault protocols planned for August on the Ethereum network. The initial release will feature NFTs from Ape In, the viral DeFi-enable NFT collectibles game, and Rate Network, the decentralized NFT pricing and rating protocol.
PolyientX is the rebranded evolution of Polyient Games, the decentralized ecosystem formerly dedicated to NFT applications in blockchain gaming.
"PolyientX represents the culmination of our work within the NFT market as both investors and builders," added Polyient CEO Brad Robertson. "We uniquely understand the pain points hindering the industry and look forward to accelerating adoption of NFTs with our one-of-a-kind platform."
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About Polyient
Founded in 2018, Polyient is a leading investment firm and development studio focused on decentralized economies. The Polyient Ecosystem consists of PolyientX, the NFT marketplace and vault platform; Polyient Capital, the asset management division; Rate Network, the decentralized NFT pricing and rating protocol; and Ape In, the viral DeFi-enabled NFT collectibles game.
For more information on Polyient, visit https://www.polyient.io; https://www.polyientx.com; and https://www.rate.network, or follow @Polyient; @PolyientX; @Rate_Network and @ApeInFinance
Media Contact
Kistie Adams, Polyient, +1 7603828033, [email protected]
SOURCE Polyient
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